ST. LOUIS (First Alert 4/Gray News) – A former teacher at a high school in St. Louis who resigned after her OnlyFans page was reported to district officials has been fired after just days on a new job. Brianna Coppage was a teacher for five years, spending two at St. Clair High School. She was ... Read more
You can’t retire on $1m net worth. That’s not even a house in lots of areas.
It definitely helps. But giving up my career for $1m would be a very bad investment.
Average investment returns are (conservatively) 8% per year, with a safe draw down being 4% per year. Which means she can safely withdraw $40,000/yr indefinitely without her investment decreasing in value over the long run.
Easily enough to retire in a decent cost of living area if she wishes, or work a small side job to boost her income to support a higher cost of living.
Especially considering she was making $42k annually as a teacher (according to another comment, I didn’t actually read the article). So she was able to live on roughly that amount already.
Realistically, she could continue to create OnlyFans content for some time and make and invest more than the initial $1m.
The safe withdraw for an extended early retirement is 3.5%
With 4%, while the chance is small, you could end up running out of money.
Someone did all the numbers for 35-40+ years looking back historically, and there were 4 or 5 years where if you started then and didn’t adjust your plan, you’d run out of cash.
There were 0 scenarios where 3.5% ran out
Yeah, except she can go makeinimum wage working full time for benefits and call it a day. You can live on minimum wage if you also have a mil in the bank to start. One door closed but a bunch of others opened. She can do that job you want that you don’t do because it doesn’t pay much.
You can’t pay for groceries with your net worth but given million bucks I’d retire immediately. That amount of money invested to the stock market pays around 50 - 70k interests every year and you get to keep the million.
I have no idea why you’re being down voted. You’re absolutely right. You can’t live on back interest from $1M, so you have to invest it, and while some years you’ll make more than 10% average invested in the stock market, over 10 years you’ll average 8% because some years you’ll not only make no returns but you’ll lose some of your investment. Which means if you’re living off those returns, some years you’ll have to eat into those investments, slowly eating down the money you have making money for you. You’re paying taxes on those returns, and if you’re living off them, they’re considered short term investments and you pay a higher tax rate - because you pay taxes on returns on your investments.
Rich people get richer because they have other income and can leave the money and the returns untouched; they aren’t living on the returns until they have far more money invested than $1M.
People down-voting you are morons.
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Sort of the joke in it all. You can’t retire on $42k/year either
yea but you can teach all life long, whereas on Onlyfans you… uh,… nevermind
y’all misunderstood my post, I think. I was trying to joke about the fact that even if you’re getting on in years, there will always be an audience for your OnlyFans. Anywayyyy
Dying on your feet in class, because you can never afford to retire